Diluted HEPS from cont. ops of 155.3cps (1H25: 121.4cps).
Turnover increased by 7.0% y-y to R22 681m.
Expenses increased by 6.9% y-y while expense-to-sales decreased from 95.9% to 95.1%.
OPM increased by 80bps to 4.9%. No dividend.
Cash generated from operating activities increased from R510m to R711m.
The UK Hyundai and Suzuki dealerships have been closed due to poor performance caused by the depressed automotive manufacturing environment in both the UK and Europe. The UK KIA dealerships remain classified as assets held-for-sale.
The Group has decided to exit its AMCO investment and is seeking a potential buyer for the business. AMCO has been classified as a discontinued operation.
The SA Dealerships significantly outperformed the broader market, with growth in both new (+26.7% y-y) and used vehicle sales volumes (+18.5% y-y) reflecting the benefits of a diversified brand portfolio and early investment in emerging Chinese and Indian brands.
